Common Bankruptcy Options for Arkansans
The most common types of bankruptcy that Arkansas residents use are Chapter 7 and Chapter 13. Both give you an opportunity for a financial reset, but the process and outcomes are different.
When many people hear the word “bankruptcy,” they think of Chapter 7 bankruptcy. This option provides a fresh start through liquidating certain assets and wiping out many general debts. A common misconception is that you will automatically lose your home and car if you file Chapter 7. That isn’t always the case. We have helped clients protect homes, vehicles, and personal belongings while seeking relief through Chapter 7 bankruptcy in Arkansas.
Our attorneys explain the Arkansas-specific exemptions that could let you keep your primary residence and essential property. State law gives people several tools to protect valued assets, including unique homestead exemptions. We review your options at the beginning so you understand what you can keep and how local rules apply to your case. With offices serving communities statewide, we make sure you always have local guidance when you need it.
The other highly effective and common option is Chapter 13 bankruptcy. When you file for relief under Chapter 13, you design a repayment plan that can let you resolve debts more affordably. Your debt is reorganized and consolidated into a manageable payment plan. At Watton Law Group, we work closely with clients to ensure each plan fits your budget and aligns with Arkansas law.
Chapter 13 provides protection from creditors while you create a plan based on your income and basic living expenses, following standards set by U.S. Bankruptcy Courts in Arkansas. Our attorneys help you gather the proper proof of income and develop a plan that satisfies state requirements and works for your situation. This process typically lasts three to five years and can help you keep valued assets while resolving unsecured debts.
What to Expect During the Arkansas Bankruptcy Filing Process
When you seek relief, the bankruptcy process in Arkansas starts with a review of your financial circumstances and a conversation about your goals. Our attorneys support you from the initial consultation to the final discharge. We explain filing requirements for Eastern and Western District courts, review critical deadlines, and guide you through required credit counseling. With our support, you can prepare your documentation and move forward at every stage. We approach the process step by step, making decisions clear and addressing Arkansas’s unique procedures.
Every Arkansas bankruptcy case begins with a detailed list of your debts, assets, and income. We then review all available exemptions and help you decide which chapter may fit your scenario—whether liquidation under Chapter 7 or a repayment plan under Chapter 13. Our attorneys stay available to answer your questions and keep you updated on progress, including hearings with local trustees or the bankruptcy court. Throughout, we focus on keeping you informed and supported until your case concludes.
How We Help Arkansans Find Relief From Debt
Our compassionate bankruptcy attorneys assist Arkansas residents in finding relief from debt through Chapter 7 and Chapter 13 bankruptcies, as well as class action lawsuits.
Together, we will work to help you:
- Stop creditor harassment
- Save your home and car
- Reduce car payments
- Stop credit card interest
- Create a practical budget
- Regain financial stability
We handle each case with an understanding of local creditor practices, Arkansas bankruptcy exemptions, and the way trustees approach cases in this state. Our team stays updated with changes from the U.S. Bankruptcy Court for the Eastern and Western Districts of Arkansas, providing you with accurate details about court locations, document requirements, and timeframes specific to bankruptcy filings in Arkansas.
Contact our Arkansas bankruptcy lawyers by calling (501) 356-3810 today for your free, confidential consultation.
